Robert Kuok still richest Malaysian

Robert Kuok, the sugar king who owns a string of five-star hotels in the region, retained his position as the richest individual in Malaysia with assets worth a staggering RM50.04 billion. with telecommunications tycoon T. Ananda Krishnan, who is worth RM45.78 billion, coming in a close second.

In third place is Public Bank chairman Tan Sri Teh Hong Piow, who moved up one notch with a fortune of RM12.77 billion, said the Malaysian Business magazine based on a survey of the 40 richest individuals in the country.

As in previous years, the wealth of the country's top 40 individuals was assessed based on the value of their stakes in listed companies.

The survey also revealed Malaysia's 40 richest individuals were collectively worth RM206.27 billion as at Jan 21, up 30 per cent compared with RM156.7 billion last year, boosted by the bullish stock market and an expanding economy.

"The overall increase is in tandem with the 20 per cent rise in the FBM KLCI benchmark," it said.